tv Bloomberg Technology Bloomberg June 21, 2017 5:00pm-6:01pm EDT
cancel talks. russia canceled meetings in response to a new round of u.s. tensions. washington says they will remain until russia honors its agreements related to ukraine and crimea. the department of homeland security says there is evidence that russians targeted election systems in 21 states last year. the states were not identified, but the affected states are said to be aware. bloomberg reported last week that russian hackers hit systems in as many as 39 states. democrats say they have a better chance of winning dozens of republican house seats in next year's midterm election. that's after the democratic party lost the special election for a georgia house seat. democrats also lost yesterday for a house seat in south carolina. a police officer in critical condition and a suspect in custody today after stabbing -- a stabbing in michigan. all passengers were safely evacuated. jared kushner arrived in jerusalem to help start
israeli-palestinian peace talks. he will meet with mahmoud abbas in the west bank city of ramallah. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. "bloomberg technology" is next. ♪ hyde in: i'm caroline from -- for emily chang. this is "bloomberg technology." -- decidedrs started it was time for travis kalanick to go and the way forward for uber. pomp and pageantry takes center stage in parliament as queen elizabeth lays down the law.
brexit and ated by sprinkling of tech. a new front runner has emerged prize race for toshiba's chip business. elect --avis can travis kalanick has officially resigned from the company he founded. bloomberg has just reported he will not receive a severance package. while the surprise resignation clears the way for a new leader, finding someone of the right caliber who is willing to take on such a difficult job won't be easy. uber was already struggling in its hunt for a chief operating officer. now the company will have to find a new leader, one that will have to keep both board members both boardrs -- suit members and investors. kalanick announced he would take a week about -- a leave of absence. the pressure didn't come from the board.
instead, in a rare move, investors pushed for him to step aside. paid --stors have poured more than $15 billion into the company. newcomer. now is eric in new york, a partner at lead edge and investor in uber. how expected was this after he took a leave of absence? >> it's so hard to know what to expect that over. -- expect at uber. kalanick hoped that a leave would satisfy his critics and recharge -- allow him to recharge after the death of his mother. but then it clearly wasn't enough. bill gurley and some other major thistors in uber led
campaign to tell travis that he needed to step aside. that looks to be what finally convinced him to leave the position as ceo. caroline: as an investor, this is something you agree with? why did it come down to the investors and not the board? >> the investor base represents a large voting interest at the company, and, so, that's an important source of control and influence on the business. it's important to recognize that travis kalanick also resigned, sort of prompted by this, but he made the determination that this was the right thing for the company. he didn't have to resign. let's not discount the role of travis in making that decision for himself, yes, prompted by the investors, but he absolutely had a hand in it as well. caroline: did he explained to us intentionally why the board -- can you explain to us why the board hadn't taken prior action? were their hands tied? did it have to do with travis'
voting share? eric: travis had a lot of control over the company, coupled with his cofounder and an early employee, early ceo of the company. together, they had a pretty strong coalition. i think there was a lot of faith in travis. he has been a key man in defining the company for good and bad. they did $20 billion in gross bookings last year. amid all the scandals, it's easy to forget how enormous this business is, how global it is. it will be a question how somebody else can step in and wrangle the business that travis knows more than anyone else. caroline: let's turn to nimay. are you as confident as ever we can see the company continued to grow, can see the valuation continue to be supported? nimay: i think travis' involvement or lack of
involvement is a challenge going forward, but there is plenty of precedent about non-founders stepping into the role of ceo and taking businesses forward. eric schmidt at google, earlier in the lifecycle at google, took the reins, and look at where google is today. in thesame view -- not same view, but when steve jobs passed away and tim cook took the reins at apple. apple is up 200% since steve jobs' passing. there is absolutely precedent for non-founders taking a backseat and businesses continuing to appreciate value and continue. we are excited about who is going to step in to those shoes. they are big ones, for sure, but there are lots of talented people out there that are excited about taking on this opportunity, taking on this challenge. it's an incredible business.
they did $20 billion in bookings last year. they continue to grow quickly. we believe that growth will be sustained and they just need to have the right leadership at the helm to continue that. may, we are just looking at the amount of executives that need to be svped, ceo, coo, cfo, cmo, of engineering, general counsel. who do you envision being ceo? who is your eric schmidt? nimay: my vote is definitely for sheryl sandberg. i don't know if she will take the job. there isn't anybody more capable and embodies the culture and values that the company needs on a go forward basis. more generally speaking, they need someone with global experience, experience running a rapidly growing business as complex as uber is. and someone that embodies those values that they are looking to define on a go forward basis,
inclusion, empathy. these are things that the board and investors are going to be looking for as they look to define the new ceo and fill up the rest of the operating bench. caroline: has sheryl sandberg been approached by the board or by investors? nimay: i don't know. caroline: can i quickly ask, therefore, how much you worry about the control travis continues to have from a voting share perspective, nimay? nimay: going back to his resignation and him deciding to do that, i think that the first step -- that's the first step in recognition that this is the right thing for the business. from a governance standpoint, i think there will be steps taken on a go forward basis that help create a little bit more balance and independents around the board -- independence around the board. we believe those steps are coming and that travis will do the right thing from a governance standpoint. that's also split between others. there is some diversity there in
the voting control and ownership in the business, but we should continue to see a diversification on a go forward basis as well. caroline: nimay mehta, partner at lead edge. bloomberg technology's eric newcomer. thank you so much. now, amazon will start selling nike shoes directly through a brand registry program. the system gives nike greater control over counterfeit merchandise. it also aims to use machine learning to detect knockoffs in the future. nike shares jumped on the news and continue to rise throughout the trading day. coming up, oracle and adobe post record highs in u.s. trading. oracle getting an even further boost from its earnings after the close. the latest on tech earnings coming next. is liferg technology"
caroline: there could be a big deal in the software sector in the works. maker isrise software said to be considering a combination that could take ca private. deal goes ahead as a leveraged buyout, it would mark the biggest lbo of a tech company since the purchase of dell. bmc has been owned by bain and golden gate capital since they took the deal private.
picking up momentum. a fourth straight quarter of revenue gains at the software maker. oracle extended its record high in after-hours trading after reporting stronger-than-expected fourth-quarter earnings results. upbeat .5%. for more on this and other tech and our, cory johnson guest cohost, activate cofounder and ceo, michael wolf. we were expecting a slight slowdown in revenue. cory: the numbers were super strong. their cloud business, what they define as their cloud business, fantastic. we've gotten accustomed to that over time. can theyion is, how manage the shift from licensed software to the cloud business, and what kind of struggles with that entail. it's a vast oversimplification of their issues. how do they move more to the cloud hwile keeping -- while
keeping their revenues and their license business flowing? there are two big shockers that came out after the close today. one of them was just the fact that license sales seem to be better than services revenue. services revenue is the thing that comes in after they've sold a lot of licenses. that's always great news, going back 20 years. whenever you see oracle sell more licenses and see licenses grow faster than sales, it means the tailwind is about to come with service revenues. it's very bullish for oracle. you saw license revenue decline. we've seen double-digit declines in license revenue sales for many, many quarters. it was 6% or 4%, a substantial improvement of that old core business. outn't know who is running there buying software like it is 1999, but they certainly were with oracle and oracle shareholders loving that after the close today. caroline: michael, have you been
telling all your companies that you consult to go buying software like it is 1999? >> there are a couple things going on. it's not as if companies are just buying. it's that oracle manages an and theye salesforce, are great at finding ways to create demand and new applications. there is another issue going on, which is that oracle will -- people talk about oracle's growth story, it's growth engine but, cloud services -- guess what, cloud services are everybody else's growth engine. it is pretty amazing that they are able to continue to grow there, despite facing a lot of headwinds of competition. one of the reasons why they may be able to grow is because of their license software business.
they have this foothold in the companies where companies need software.ir erp those same companies are buying the cloud services. caroline: fascinating. we will shift gears very quickly. is driving ahead in after-hours trading. we saw adobe come out with numbers earlier. they were again a good set of numbers. the shares did not pop quite so much. i've got a bloomberg chart. many potentially questioning this number in white. it is how high earnings per shares have got. you look at the trailing 12 months earnings per shares, looking at what it might be going forward, and estimates are that the revenue just keeps going. maybe price-to-earnings looks that little bit more tempting. cory: i can connect the dots with oracle and adobe. to keep this business
going, but completely change it from license software to the cloud, the same thing oracle is trying to do. -- moneyoneyman for is manager is famous for saying -- i want to show you what oracle has done. this is adobe's -- the blue line is revenue. the red line is deferred revenue. that is the money they have collected for services not delivered. what you see is a transition to the cloud. thisis area, you see inflection point happened where the deferred revenues started getting bigger than the actual revenues. -- it'sore predictable a more predictable business model. suddenly, we are looking at a different projection -- progression. actual revenues
later. oracle would like to have it big deferred revenues and actual revenues showing up a little later. oracle is moving in that direction. adobe is already there. caroline: trends going in the right direction. great to discuss this with you, wolf.ohnson and michael coming up, queen elizabeth's speech to lawmakers. have a u.k. will handle its withdrawal from the you -- the european union. and if you like bloomberg news, check us out on the radio. you can listen on the bloomberg radio app, bloomberg.com, and sirius xm. this is bloomberg. ♪
agenda to lawmakers in the u.k. brexit obviously dominates may's program for the next two years as the country tries to find the right balance as it separates from the european union. details from london. the queen'sminated speech in london on wednesday as the government tried to set out its legislative agenda for the two years that lie ahead. on the brexit front, we heard about policies on immigration and trade. both of those could prove contentious, as those who want a hard brexit vs. those who want a soft brexit battle for influence over government policy. many domestic policies that could have been controversial had to be dropped after the conservative party failed to maintain its majority at the most recent election earlier this month. also absent was any mention of a controversial state visit by president trump. a spokesperson for the government said the only reason this was not included was that no date has been set.
the queen's speech also included reference to policies on a commitment to review counterterrorism strategy, and to hold an inquiry in the grand fell -- grenfell f ire in london last week. anna edwards, bloomberg news, london. caroline: from policies and electric vehicles to a measure that would allow -- and electric vehicles to a measure that would allow -- it's maintaining and attracting the best tech talent for their workforce. i sought -- sat down with rogers agarwal -- rajesh agrawal. rajesh: we have made it very clear that the european citizens already here -- they are londoners to us. they have contributed significantly to london's economy. it's absolutely the right thing
to do that they are given permanent right to stay here. khan, london mayor, sadiq has been talking about immigration deals. : london has benefited significantly from this amazing talent pool. to be honest, when london does well, the whole country does well. we are the economic engine of the u.k. because we produce almost, 1/4 of the country's gdp. when london does well, the whole country does well. i hope there is a solution to this. if not, then we will look at some interesting ideas that have been tabled. caroline: what sort of interesting ideas? rajesh: there are examples of regional beezus games, which i know the city of -- regional visa schemes.
the important thing is that we remain open for talent, for business, for investment, for ideas. the chancellor of the exchequer was in london just this week, talking about how, perhaps, the government is now going to be more focused on business. how do you think the business climate is, in london in particular? how is optimism among various sectors? rajesh: businesses don't like uncertainty. at the same time, they have shown a lot of confidence. if you look at straight after the brexit referendum, there was an assumption there would be a mass exit is of businesses from london. i'm glad businesses are not taking any rash decisions. they are waiting and watching and creating contingency plans, rightly so. but it will -- confident will remain
about london's future amongst all this uncertainty. caroline: what sectors do you feel are the most thriving and perhaps feeling the most concern and uncertainty? for example, the financial services, an area we were strong on in london. is that managing to remain consistent despite the financial crisis and brexit? rajesh: london is a very diverse economy. we are the financial capital of the world, the banking capital of the world, but we also are a very thriving tech sector, we have a very thriving life-sciences sector. london is a very diverse economy. it's the economy of the future. if you talk about the tech industry, there's artificial intelligence, machine learning. the most innovative solutions are coming up. just this week, the mayor outlined his vision for london to be a leading smart city. what smart city actually means
is using technological solutions to tackle some of the challenges of the growing urban population. these are challenges not just faced by london, but cities around the world. london is very well-positioned to be number one. it's already a leading city in the world and smart technology, but i think we really can take this to the next level. caroline: that was london deputy mayor of business rajesh agra wal. coming up, more on the fallout of travis kalanick's resignation from uber. a closer look at how he turned the start up into a $5 billion powerhouse. this is bloomberg. ♪
alisa: i'm alisa parenti in washington, and you are watching "bloomberg technology." the fbi says the gunman, james hodgkinson, acted alone when he shot and wounded congressman steve simply's -- steve scalise and four others and did not have any ties to terrorism. scully's's condition -- scalise's condition has been upgraded to fair. queen elizabeth outlined may's legislative priorities in her annual speech to lawmakers. ght government plans ei new laws to ease the u.k.'s withdrawal from the eu. scotland could be given a separate vote over whether the
edinburgh parliament will be legally required to give its so-called repeal bill consent, which paves the way for brexit. it will overturn about 80,000 pieces of eu law. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. it's just after 5:30 wednesday evening here in washington, 7:30 thursday morning now in sydney. we are joined by bloomberg's paul allen with a look at the markets. paul, good morning. paul: good morning, alisa. the new zealand dollar up a little this morning. this is after the reserve bank held the cash rate, as expected by all 15 economists surveyed, at 1.75%. the governor saying monetary policy there will remain accommodative for a considerable period. asx futures pointing higher by
about 0.3%, rebounding after wednesday's selldown. nikkei futures looking a little weaker. might be worth keeping an eye on takata today and for the next few days. it's expected to file for bankruptcy, possibly this week, and the tokyo stock exchange is expanding the lower limit for takata from today. a couple rate decisions out from taiwan and the philippines. talks with potential investors after extending its credit facility. more from "bloomberg technology" next. ♪ caroline: this is "bloomberg technology." i'm caroline hyde.
travis kalanick leaving his post. he has played a starring role in many of the company's biggest controversies, including this video showing an argument with the driver about pay, published by bloomberg. what does today's news mean for leadership at uber and beyond, and what legacy will travis kalanick leave behind at the company he helped build? and michael wolf. shira, quite fascinating. travis was a visionary. he also was divisive. what are we going to be seeing in terms of what this means for very few other entrepreneurs having this sort of legacy? we had bill gurley, one of the key investors in uber, say this is something we should be talking about. shira: i don't think we know
what uber is going to look like without travis kalanick. for better or work, -- worse, this was a company made in his image. uber needs to figure out who its leader is going to be and what does the company look like without this powerful ceo and cofounder leading the company on a day-to-day basis. you are right. i think this is a wake-up call. every time there is one of these scandals with silicon valley stars, it should be and it is a wake-up call for its peers in silicon valley that, look, there is investor pressure from the outside, no matter how much you insulate yourself with super voting shares and things like this. if you turn off investors, if they think their investment is at stake, they will push you out. caroline: i think this is such a fascinating element to the whole story. many people hold off going public because they are worried about activist investors, but it doesn't seem now whether your public or private -- investors can still weigh in and turn out a very pal your full --
very powerful ceo. michael: at this kind of valuation, the board still has a massive amount of control. in a lot of ways, people look at what's happened here and they look and they can see the huge amount of value that travis has created. but at the same time, silicon valley is the toughest labor market in the world, and being a company that can recruit the best technologoist -- technologists -- those who have the best technologists win. making sure this is a place that can attract the best talent and really build technologists is more critical. so, it's not surprising that the board looked at these problems and said, it's going to get in the way of the company's growth. caroline: and the investors clearly saw the same thing. shira, it's not just potentially ofpanies and other ceos
other tech giants that need to be potentially aware of themselves, but also the culture which builds within a silicon valley powerhouse. wellro culture -- is it and truly under the spotlight and on its way out? shira: i think it has been for several years now. you have this movement to look at the demographics of workforces in silicon valley, and most companies were pretty embarrassed by what they found. the leadership ranks, the engineering talent, the engineering workforce at these companies are heavily dominated by white men. once those numbers started coming out, that really put pressure on these companies. but it is very hard to change. these are systemic issues, not unique to the technology industry, although interesting. tech industry thinks of itself as a meritocracy. when there are clearly these skewed workforces, it kind of erases that image of silicon valley as this kind of ultimate
valhalla where everything goes right. caroline: michael, i want to pull on your expertise -- call on your expertise, not just as ceo, but on the board of yahoo!, slide, currently amplify. what does it mean when you take out such a visionary from the top, such a strong ceo, and try noteplace with a new one, to mention just ceo, but cfo, general counsel -- what do you advise? michael: the question comes down to is it the idea -- where is the company today vs. the leadership of the company? you could argue that a lot of what's happening today at uber is a flywheel. the business will keep going on regardless of its founder. not a lot of people have made the analogy to steve jobs, who left at a certain point in the company's growth and came back
later. but this is a case where, things are going great for uber. it continues to grow. it continues to take -- to really reshape the way that people manage transportation. at the same time, however, it it's missing a lot of management -- however, it's missing a lot of management. got to moment, they've go out and recruit a new ceo. they have to bring in all those other people and change the culture, because they are not just competing for rides. there also competing for the best talent, and talent in the valley will go to the place that, a, they like the best and, b, they can make the most amount of money. caroline: shira, you have written about this. talk about what competitors should now be doing. lyft is a tough competitor when it comes to the u.s., and there are competitors in germany. also, the regulators.
shira: to me, this is the risk to uber right now. there is a leadership vacuum. the company is grappling with these multiple crises all at once. the issue is this is not a business where you can let your guard down for a second. as you mentioned, uber has many come -- competitors, lyft in the u.s. those are markets that uber needs to dominate if it wants to justify its valuation, and it is facing an emboldened rival. at the same time, you have all these enemies of uber, disgruntled drivers, disgruntled regulators, disgruntled politicians, and now they can see that uber is weakened, and that gives them the power to press their demands on the company as well. that could hurt the company at a period when it's looking for a ceo, grappling with all these other crises on top of crises. you, you michael, to
were on the board of yahoo! in its most tumultuous change over. what does the new ceo of uber have to do? what strengths do they need to bring to the table? michael: i think they need to change this company's culture. i think they need to retain its aggressiveness in the marketplace, it's opening up to new cities --its opening up to new cities, really dealing with municipalities, but, at the same time, they have to be able to enhance the user experience. as they face more competition, they are not just competing on price, but competing on an experience for how you use the app, how do you find rides, all the other services that are around that. it's going to be a tough challenge, reshaping a culture, changing a technology company, dealing with the real world of business apologies and drivers. caroline: fascinating discussion. michael wolf, ceo of activate, our guest host. shira ovide. do check out her stories on
bloomberg.com. an update out of detroit for you, where alibaba's two-day gateway conference wrapped up. it drew in thousands of u.s. business owners looking into how to succeed in china. alibaba founder jack ma was optimistic about his comments on job growth. jack: we also created more than 33 million jobs. this is what we are most proud of. our goal is that we get bigger, even crazier. caroline: coming up, toshiba is said to be in the final stage of negotiations with bidders for its memory chip unit. we are live in tokyo, next. a reminder of our interactive tv function. find it at go on the bloomberg to watch us live. you could send producers message, play along with the charts. this is for bloomberg subscribers only. check it out. this is bloomberg. ♪
caroline: a shakeup at tesla. the head of its self driving software unit is out less than six months after he joined the company from apple. the new head of tesla's autopilot software and hardware will be jim keller. after months of speculation, toshiba is inching closer to announcing -- the sale will be a short-term gain, freeing up cash. we will be digging into this much more now, looking ahead into what has happened with toshiba. let's get out to tokyo, where we have our --
now, we are moving on from tokyo. we will come back to tokyo in just a few minutes. let's, first of all, go to apple music. overall, we are going to be looking at how music has been looking to expand its presence. now, we are going to be able to talk instead about cord cutting. we dig into the cosmic shift taking place and how it has challenged the way that media approaches television. now, we are going to be looking at part of the negotiations to revise apples overall relationship with the music industry -- revise apple's overall relationship with the music industry. the negotiations would bring apple closer to the rate that spotify pays labels. now, coming up, we are going to be discussing, of course, further into the ongoing uber
extravaganza. we will be looking a little bit further at the fallout from travis kalanick and, indeed, how he's been working to move off from the board. this is something we will be extrapolating. we will also look into what the activismivision -- really was here. it was the investor base that pushed towards travis' exit, we understand. the debate now is who will be taking over and, indeed, how many other ceo's there might be potentially out there. many people looking at some of the names that could potentially be there. we can look at the months after speculation involving toshiba. it is inching closer to announcing the sale of its proper look -- it's profitable memory -- its profitable memory chip business, setting the company back on the right path
after huge losses from its nuclear subsidiary, westinghouse. for more, we are joined by reed stevenson. reed, wonderful to have you join us. thank you very much. let me look at the consortium of buyers. at last, we get them, but it's a complex group of payers. because the financing and the money on the table isn't all that clear. reed: exactly. is essentially, we have a private equity component, bain capital. then two japanese state-supported funds, the innovation network corp. of japan, which is really aimed at investing in new technologies and new areas, as well as the development bank of japan. and a competitor in the memory chip space is also joining, also in the form of debt, just to make sure that a they don't get caught up in any -- that they don't get caught up in any antitrust or regulatory hurdles. caroline: now we move forward,
potentially, in terms of antitrust and regulatory hurdles. there were some issues with western digital not liking some of the people who were potentially going to be buying toshiba. have those sorts of issues been put to rest? reed: there are two main hurdles to think of at this point. one of them is, by and large, mostly resolved. that is not so much antitrust, but essentially the japanese government trying to make sure that key technology doesn't find its way overseas, into the hands of chinese or korean manufacturers. with the participation of those two state backed funds, that's probably going to be pretty much resolved. the other issue, as you mentioned, is western digital. they are already a partner with toshiba, in that they have invested in equipment together, but it's a rather small part of the overall memory chip business.
but what western digital is theerned about is that business might fall into the hands of a competitor. broadcom is also, still, at this point, a bidder for the business, although it's looking unlikely that they are going to win. one of western digital's objectives was to make sure that the chip business didn't fall into a competitor's hands. what western digital has done, very briefly, is file an injunction to try and stop the sale. at this point, our read is that bain capital and the consortium that it has created are probably pretty confident that it can overcome any legal challenges, and that's why they have emerged as the leading or preferred bidder for the chip unit. caroline: fascinating. of course, this one will run the cashw much
he was a former board member of yahoo! and former president of mtv network. dig into some of these trends we are seeing. the shift for cord cutting is well and truly on. who are going to be the winners? michael: you haven't even begun to mention the names of all the other people who are now focused on digital video. facebook is going to produce shows. you've got buzzfeed, which is also producing shows. fusion media group, part of univision, is producing online shows. nbc with left field. we have a large number of companies who you would have said weren't on the web before, and they are now creating television and shows that will be not just on their own platforms, but on facebook, instagram, twitter. they doing this? because the name of the game in the internet is engagement, and video leads to engagement. inoline: i'm fascinated
particular by the $450 million fundraising by vice. which revenue model wins out here? is it subscription-based? we look at vice with the advertising. they are managing to woo in advertisers, despite the viewing figures not looking all that hot. michael: part of what explains vice's success from an advertising perspective is that they are reaching an audience that is very hard to get, millennials. they've got an edge. they are almost a subversive edge to the company which gets those millennials to come back, but they are not just selling advertising. they are also selling marketing. they are finding ways in which they can integrate their marketers' products into their actual programming and help them create advertising, and that's one of the things that is differentiating them.
i expect that everybody else in video is going to be doing the same thing and that vice is going to face a lot of competition. caroline: ok. everyone is going to be doing the same thing. what about some of the key losers here, then? who should -- if we are shareholders getting our money out. it would spring to mind that it would be the cable providers, cable tv, but some of them are getting their skin in the game with these investment rounds. michael: my firm continues to see growth in cable tv. cord cutting will continue, but it's going to be the slower rate. part of the reason why cord cutting is even happening is that there are a lot of millennials who, our research shows, are sharing passwords, using their parents' passwords for their tv anywhere. i think the losers will be those cable networks which aren't able to maintain ratings. there are some of them who just haven't been able to maintain ratings in a world where they
have competition against digital video. andothers will be websites other digital media's that don't have video, because they need video to grow. caroline: need to stay ahead of the game. need to be in the videogame. my guest cohost for the hour, activate's cofounder and ceo michael wolf. wonderful to have you. that's it for this edition of "bloomberg technology." on thursday, i will be leading up bloomberg's coverage of the conference in berlin. a great lineup of guests, including john collison, stripe president and cofounder. bloombergtech.tv.
♪ from our studios in new york city, this is "charlie rose." >> good evening. charlie is traveling and i'm of the goldberg atlantic. president trump's's approval numbers continue to drift downward even among the previous loyal base that won him the election. only 36% of americans support his performance so far. the trump administration continues to endure heightened scrutiny over ties with russia as robert mueller's investigation begins to ramp up. voters have gone to the polls today in georgia's nationally